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Admiral rewards staff with multimillion pound bonus

Professionals working for insurance mogul Admiral should be overjoyed this month, after sharing a £12 million bonus.

Each member of staff will receive just over £3,000 each this year; after the firm saw a 23 per cent increase in their profits throughout 2010.

According to The Mirror, the company reported a whopping £266 million profit last year, thanks mostly to its motor insurance arm of the organisation.

Admiral boss Henry Engelhardt confirmed this, speaking to the press about the increase in profit. He claimed: "The big success was the UK motor insurance business. It's a snowball going like a freight train."

"Throughout 2010 we experienced a flood of new business, with UK vehicle growth at over 30 per cent."

The news may encourage more Brits to get into jobs in insurance companies, as bonuses of this magnitude are rarely seen across the nation these days.

One worker from the company, Katie Dando, said she would earmark some of the money to spend on her beloved pets: "I'll have to set aside some of it to buy the ferrets a new bed and to get other stuff for them."

However she did add on Wales Online that she had plans to use some of the cash for personal indulgences, such as "clothes, handbags and stuff like that."

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